Rolle im Portfolio
The German-domiciled iShares Pfandbriefe ETF offers investors exposure to an asset class regarded amongst the safest in the European fixed income market. German Pfandbriefe are covered bonds issued by German financial institutions. Although generally top rated, they offer a yield pick-up over German government bonds. The Pfandbriefe market is segmented between non-Jumbo and Jumbo, with the latter made up of issues with a minimum size of EUR 1.5bn.
The combination of security and yield pick-up, as well as the depth and liquidity of the Pfandbriefe market, would make this ETF a prime candidate to complement core EUR-denominated fixed income holdings in a portfolio; offering investors a relatively cheap way to rump up yield without unduly increasing risk.
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